<SEC-DOCUMENT>0001104659-25-030582.txt : 20250401
<SEC-HEADER>0001104659-25-030582.hdr.sgml : 20250401
<ACCEPTANCE-DATETIME>20250401163024
ACCESSION NUMBER:		0001104659-25-030582
CONFORMED SUBMISSION TYPE:	40-APP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250401
DATE AS OF CHANGE:		20250401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance Corp
		CENTRAL INDEX KEY:			0001496099
		ORGANIZATION NAME:           	
		EIN:				272978010
		STATE OF INCORPORATION:			X1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739
		FILM NUMBER:		25800168

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127300200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Guardian Corp
		DATE OF NAME CHANGE:	20100706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 8, Ltd.
		CENTRAL INDEX KEY:			0002061294
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-42
		FILM NUMBER:		25800210

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance Advisers, L.L.C.
		CENTRAL INDEX KEY:			0001527830
		ORGANIZATION NAME:           	
		EIN:				274530509

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-11
		FILM NUMBER:		25800179

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Finance Advisers BDC, L.L.C.
		DATE OF NAME CHANGE:	20110811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance SBIC, L.P.
		CENTRAL INDEX KEY:			0001599888
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-10
		FILM NUMBER:		25800178

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127200300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF QID NGL Holdings, Inc.
		CENTRAL INDEX KEY:			0001683388
		ORGANIZATION NAME:           	
		EIN:				473381823
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-19
		FILM NUMBER:		25800187

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF Ancora Holdings, Inc.
		CENTRAL INDEX KEY:			0001683399
		ORGANIZATION NAME:           	
		EIN:				463803116
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-23
		FILM NUMBER:		25800191

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF YP Holdings, Inc.
		CENTRAL INDEX KEY:			0001683420
		ORGANIZATION NAME:           	
		EIN:				465495317
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-15
		FILM NUMBER:		25800183

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian Partners II, L.P.
		CENTRAL INDEX KEY:			0001683530
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-27
		FILM NUMBER:		25800195

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Net Lease Corp
		CENTRAL INDEX KEY:			0001691791
		ORGANIZATION NAME:           	
		EIN:				812880688
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-26
		FILM NUMBER:		25800194

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127200300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian II Master Fund-B, L.P.
		CENTRAL INDEX KEY:			0001696575
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-29
		FILM NUMBER:		25800197

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATION TRUST CENTER
		STREET 2:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		CORPORATION TRUST CENTER
		STREET 2:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian II Master Fund-A, L.P.
		CENTRAL INDEX KEY:			0001696581
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-30
		FILM NUMBER:		25800198

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATION TRUST CENTER
		STREET 2:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		2126550083

	MAIL ADDRESS:	
		STREET 1:		CORPORATION TRUST CENTER
		STREET 2:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance SBIC II, L.P.
		CENTRAL INDEX KEY:			0001696727
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-32
		FILM NUMBER:		25800200

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127200300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Net Lease Partners, L.P.
		CENTRAL INDEX KEY:			0001723029
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-25
		FILM NUMBER:		25800193

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF SLF I, Inc.
		CENTRAL INDEX KEY:			0001766037
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-17
		FILM NUMBER:		25800185

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NMF Senior Loan Fund I, Inc.
		DATE OF NAME CHANGE:	20190125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Strategic Equity Fund I, L.P.
		CENTRAL INDEX KEY:			0001766873
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-24
		FILM NUMBER:		25800192

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance DB, L.L.C.
		CENTRAL INDEX KEY:			0001775989
		ORGANIZATION NAME:           	
		EIN:				832500148
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-34
		FILM NUMBER:		25800202

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-220-3505

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance Servicing, L.L.C.
		CENTRAL INDEX KEY:			0001775991
		ORGANIZATION NAME:           	
		EIN:				300815054
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-31
		FILM NUMBER:		25800199

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2122203505

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE
		STREET 2:		49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Partners VI, L.P.
		CENTRAL INDEX KEY:			0001809170
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-07
		FILM NUMBER:		25800175

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Partners VI Luxembourg, SCSp
		CENTRAL INDEX KEY:			0001815387
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-02
		FILM NUMBER:		25800170

	BUSINESS ADDRESS:	
		STREET 1:		42-44 AVENUE DE LA GARE
		CITY:			GRAND DUCHY OF LUXEMBOURG
		STATE:			N4
		ZIP:			L-1610
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		42-44 AVENUE DE LA GARE
		CITY:			GRAND DUCHY OF LUXEMBOURG
		STATE:			N4
		ZIP:			L-1610

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CAS Continuation Fund, L.P.
		CENTRAL INDEX KEY:			0001878291
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-05
		FILM NUMBER:		25800173

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NMP III Continuation Fund, L.P.
		DATE OF NAME CHANGE:	20210812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Net Lease Partners II, L.P.
		CENTRAL INDEX KEY:			0001921226
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-08
		FILM NUMBER:		25800176

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV BDC, L.L.C.
		CENTRAL INDEX KEY:			0001925531
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-28
		FILM NUMBER:		25800196

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Guardian IV BDC L.L.C.
		DATE OF NAME CHANGE:	20220426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF Permian Holdings L.L.C.
		CENTRAL INDEX KEY:			0001928252
		ORGANIZATION NAME:           	
		EIN:				861919195
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-09
		FILM NUMBER:		25800177

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF HB, Inc.
		CENTRAL INDEX KEY:			0001928253
		ORGANIZATION NAME:           	
		EIN:				872697046
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-22
		FILM NUMBER:		25800190

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF TRM, L.L.C.
		CENTRAL INDEX KEY:			0001928255
		ORGANIZATION NAME:           	
		EIN:				872870405
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-16
		FILM NUMBER:		25800184

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF Pioneer, Inc.
		CENTRAL INDEX KEY:			0001928256
		ORGANIZATION NAME:           	
		EIN:				833331313
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-20
		FILM NUMBER:		25800188

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF OEC, Inc.
		CENTRAL INDEX KEY:			0001928257
		ORGANIZATION NAME:           	
		EIN:				873920016
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-21
		FILM NUMBER:		25800189

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian III SPV, L.L.C.
		CENTRAL INDEX KEY:			0001928262
		ORGANIZATION NAME:           	
		EIN:				841918127
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-03
		FILM NUMBER:		25800171

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF SLF I SPV, L.L.C.
		CENTRAL INDEX KEY:			0001928275
		ORGANIZATION NAME:           	
		EIN:				854260429
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-18
		FILM NUMBER:		25800186

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Strategic Equity Fund II, L.P.
		CENTRAL INDEX KEY:			0001928279
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-06
		FILM NUMBER:		25800174

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Credit CLO Advisers, L.L.C.
		CENTRAL INDEX KEY:			0001928282
		ORGANIZATION NAME:           	
		EIN:				844239266
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-35
		FILM NUMBER:		25800203

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Credit CLO Advisers, LLC
		DATE OF NAME CHANGE:	20220511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 2, Ltd.
		CENTRAL INDEX KEY:			0001928283
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-39
		FILM NUMBER:		25800207

	BUSINESS ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 3, Ltd.
		CENTRAL INDEX KEY:			0001928285
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-38
		FILM NUMBER:		25800206

	BUSINESS ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 4, Ltd.
		CENTRAL INDEX KEY:			0001928286
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-37
		FILM NUMBER:		25800205

	BUSINESS ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 5, Ltd.
		CENTRAL INDEX KEY:			0001928288
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-36
		FILM NUMBER:		25800204

	BUSINESS ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 1, Ltd.
		CENTRAL INDEX KEY:			0001928499
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-40
		FILM NUMBER:		25800208

	BUSINESS ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Partners VII, L.P.
		CENTRAL INDEX KEY:			0001968721
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-01
		FILM NUMBER:		25800169

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV Income Fund, L.L.C.
		CENTRAL INDEX KEY:			0001976719
		ORGANIZATION NAME:           	
		EIN:				920964074
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-13
		FILM NUMBER:		25800181

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Guardian IV Unlevered BDC, L.L.C.
		DATE OF NAME CHANGE:	20230505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain DAT Continuation Fund, L.P.
		CENTRAL INDEX KEY:			0002000124
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-04
		FILM NUMBER:		25800172

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NMP IV Continuation Fund (D), L.P.
		DATE OF NAME CHANGE:	20231107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Net Lease Trust
		CENTRAL INDEX KEY:			0002033695
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-12
		FILM NUMBER:		25800180

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Private Credit Fund
		CENTRAL INDEX KEY:			0002037804
		ORGANIZATION NAME:           	
		EIN:				996860731
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-14
		FILM NUMBER:		25800182

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain SRC Continuation Fund, L.P.
		CENTRAL INDEX KEY:			0002052030
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-45
		FILM NUMBER:		25800213

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain REA Continuation Fund, L.P.
		DATE OF NAME CHANGE:	20250114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NMF SLF I Opportunistic SPV, L.L.C.
		CENTRAL INDEX KEY:			0002061280
		ORGANIZATION NAME:           	
		EIN:				920621886
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-55
		FILM NUMBER:		25800223

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Private Credit Fund OEC, Inc.
		CENTRAL INDEX KEY:			0002061281
		ORGANIZATION NAME:           	
		EIN:				873920275
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-54
		FILM NUMBER:		25800222

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV SPV, L.L.C.
		CENTRAL INDEX KEY:			0002061283
		ORGANIZATION NAME:           	
		EIN:				842627159
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231
		LEGAL ENTITY IDENTIFIER:    	(212) 720-0300

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-53
		FILM NUMBER:		25800221

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Private Credit Fund SPV I, L.L.C.
		DATE OF NAME CHANGE:	20250317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV Holdings, L.L.C.
		CENTRAL INDEX KEY:			0002061284
		ORGANIZATION NAME:           	
		EIN:				881377220
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-52
		FILM NUMBER:		25800220

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV Panzura, Inc.
		CENTRAL INDEX KEY:			0002061285
		ORGANIZATION NAME:           	
		EIN:				933023083
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-51
		FILM NUMBER:		25800219

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian IV PPP, Inc.
		CENTRAL INDEX KEY:			0002061286
		ORGANIZATION NAME:           	
		EIN:				995136539
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-50
		FILM NUMBER:		25800218

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			H-1 Credit Fund I, L.P.
		CENTRAL INDEX KEY:			0002061287
		ORGANIZATION NAME:           	
		EIN:				981770594
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-49
		FILM NUMBER:		25800217

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian V (Unlevered), L.P.
		CENTRAL INDEX KEY:			0002061288
		ORGANIZATION NAME:           	
		EIN:				331303145
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-48
		FILM NUMBER:		25800216

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Guardian V (Levered), L.P.
		CENTRAL INDEX KEY:			0002061290
		ORGANIZATION NAME:           	
		EIN:				331278826
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-47
		FILM NUMBER:		25800215

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			I-1 Credit Fund I, L.P.
		CENTRAL INDEX KEY:			0002061291
		ORGANIZATION NAME:           	
		EIN:				981840183
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-46
		FILM NUMBER:		25800214

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 6, Ltd.
		CENTRAL INDEX KEY:			0002061292
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-44
		FILM NUMBER:		25800212

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain CLO 7, Ltd.
		CENTRAL INDEX KEY:			0002061293
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-43
		FILM NUMBER:		25800211

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0200

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Capital, L.L.C.
		CENTRAL INDEX KEY:			0001407718
		ORGANIZATION NAME:           	
		EIN:				810659915

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-41
		FILM NUMBER:		25800209

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance Holdings, L.L.C.
		CENTRAL INDEX KEY:			0001491925
		ORGANIZATION NAME:           	
		EIN:				263633318
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-APP
		SEC ACT:		
		SEC FILE NUMBER:	812-15739-33
		FILM NUMBER:		25800201

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Guardian (Leveraged), L.L.C.
		DATE OF NAME CHANGE:	20100513
</SEC-HEADER>
<DOCUMENT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif"><!-- BannerFile="tm259842d1_40-app.htm"   BannerFilePath="/apps/files/files/jms2files/gofiler/tm259842-1/tm259842-1_40appseq1/users" -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">File No.&nbsp;812-</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">U.S. SECURITIES AND EXCHANGE COMMISSION</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">In the Matter of the Application of:</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>New
Mountain Capital, L.L.C.; New Mountain CLO 1,&nbsp;Ltd.; New Mountain CLO 2,&nbsp;Ltd.; New Mountain CLO 3,&nbsp;Ltd.; New Mountain
CLO 4,&nbsp;Ltd.; New Mountain CLO 5,&nbsp;Ltd.; New Mountain Credit CLO Advisers, L.L.C.; New Mountain Finance Advisers, L.L.C.;
New Mountain Finance Corporation; New Mountain Finance DB, L.L.C.; New Mountain Finance Holdings, L.L.C.; New Mountain Finance SBIC
II, L.P.; New Mountain Finance SBIC, L.P.; New Mountain Finance Servicing, L.L.C.; New Mountain Guardian II Master Fund-A, L.P.; New
Mountain Guardian II Master Fund-B, L.P.; New Mountain Guardian IV BDC, L.L.C.; New Mountain Guardian Partners II, L.P.; New
Mountain Net Lease Corporation; New Mountain Net Lease Partners II, L.P.; New Mountain Net Lease Partners, L.P.; New Mountain
Partners VI, L.P.; New Mountain Strategic Equity Fund I, L.P.; New Mountain Strategic Equity Fund II, L.P.; NMF Ancora
Holdings,&nbsp;Inc.; NMF HB,&nbsp;Inc.; NMF OEC,&nbsp;Inc.; NMF Permian Holdings L.L.C.; NMF Pioneer,&nbsp;Inc.; NMF QID NGL
Holdings,&nbsp;Inc.; NMF SLF I SPV, L.L.C.; NMF SLF I,&nbsp;Inc.; NMF TRM, L.L.C.; NMF YP Holdings,&nbsp;Inc.; New Mountain Private
Credit Fund; New Mountain Guardian IV Income Fund, L.L.C.; NEW MOUNTAIN GUARDIAN IV SPV, L.L.C. NMF SLF I Opportunistic SPV, L.L.C.;
New Mountain Private Credit Fund OEC,&nbsp;Inc.; New Mountain Private Credit Fund SPV I, L.L.C.; New Mountain Guardian IV Holdings,
L.L.C.; New Mountain Guardian IV Panzura,&nbsp;Inc.; New Mountain Guardian IV PPP,&nbsp;Inc.; New Mountain Net Lease Trust; H-1
CREDIT FUND I, L.P; New Mountain Guardian V (Unlevered), L.P.; New Mountain Guardian V (Levered) L.P.; I-1 CREDIT FUND I, L.P.; New
Mountain Partners VII, L.P.; New Mountain Partners VI Luxembourg, SCSp; New Mountain SRC Continuation Fund, L.P.; New Mountain CAS
Continuation Fund, L.P.; New Mountain DAT Continuation Fund, L.P.; New Mountain CLO 6,&nbsp;Ltd.; New Mountain CLO 7,&nbsp;Ltd.; New
Mountain CLO 8,&nbsp;Ltd.</B></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1633 Broadway, 48th Floor</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, New York 10019</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(212) 720-0300</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">APPLICATION FOR AN ORDER PURSUANT TO SECTIONS
17(d)&nbsp;AND 57(i)&nbsp;OF THE INVESTMENT COMPANY ACT OF 1940 AND RULE 17d-1 UNDER THE INVESTMENT COMPANY ACT OF 1940 PERMITTING CERTAIN
JOINT TRANSACTIONS OTHERWISE PROHIBITED BY SECTIONS 17(d)&nbsp;AND 57(a)(4)&nbsp;OF AND RULE 17d-1 UNDER THE INVESTMENT COMPANY ACT OF
1940</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>All Communications, Notices and Orders to:</I></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>John R. Kline</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>President and Chief Executive Officer</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New Mountain Finance Corporation</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1633 Broadway, 48th Floor</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 720-0300</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>jkline@newmountaincapital.com</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Copies to:</I></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Steven B. Boehm,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Payam Siadatpour,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Anne G. Oberndorf,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Eversheds Sutherland (US) LLP</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>700 Sixth Street, N.W., Suite&nbsp;700</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20001</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(202) 383-0100</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>anneoberndorf@eversheds-sutherland.com</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 1, 2025</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>I. SUMMARY OF APPLICATION</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following entities hereby request an order
(the &ldquo;<B><I>Order</I></B>&rdquo;) of the U.S. Securities and Exchange Commission (the &ldquo;<B><I>SEC</I></B>&rdquo; or &ldquo;<B><I>Commission</I></B>&rdquo;)
under Section&nbsp;57(i)&nbsp;of the Investment Company Act of 1940, as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;),<SUP>1</SUP>
and Rule&nbsp;17d-1, permitting certain joint transactions otherwise prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940
Act and Rule&nbsp;17d-1 thereunder. The Order would supersede the exemptive order issued by the Commission to New Mountain Finance Corporation,
et al. on October&nbsp;8, 2019 under Sections 17(d)&nbsp;and 57(i)&nbsp;of the 1940 Act and Rule&nbsp;17d-1&nbsp;under the 1940 Act permitting
certain joint transactions otherwise prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d-1&nbsp;under
the 1940 Act and amended by order issued on August&nbsp;30, 2022 (collectively, the &ldquo;<B><I>Prior Orders</I></B>&rdquo;), with the
result that no person will continue to rely on the Prior Orders if the Order is granted.<SUP>2</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Finance Corporation (&ldquo;<B><I>NMFC</I></B>&rdquo;), a Delaware corporation that
                                            has elected to be regulated as a business development company under the 1940 Act. The investment
                                            adviser to NMFC is NMFA (as defined below).</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>NMF
                                            SLF I,&nbsp;Inc. (&ldquo;<B><I>SLF</I></B>&rdquo;), a Maryland corporation that has elected
                                            to be regulated as a business development company under the 1940 Act. The investment adviser
                                            to SLF is NMFA.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Guardian IV BDC, L.L.C. (&ldquo;<B><I>GIV</I></B>&rdquo;), a Delaware limited liability
                                            company that has elected to be regulated as a business development company under the 1940
                                            Act. The investment adviser to GIV is NMFA.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Guardian IV Income Fund, L.L.C. (&ldquo;<B><I>GIV Income</I></B>&rdquo;), a Delaware
                                            limited liability company that has elected to be regulated as a business development company
                                            under the 1940 Act. The investment adviser to GIV Income is NMFA.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Private Credit Fund (&ldquo;<B><I>NEWCRED</I></B>&rdquo;), a Maryland statutory
                                            trust, that has elected to be regulated as a business development company under the 1940
                                            Act. The investment adviser to NEWCRED is NMFA.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Finance Advisers, L.L.C. (f/k/a New Mountain Finance Advisers BDC, L.L.C.) (&ldquo;<B><I>NMFA</I></B>&rdquo;)
                                            serves as the investment adviser to NMFC, SLF, GIV, GIV Income, NEWCRED and certain Existing
                                            Affiliated Funds, on behalf of itself and its successors. NMFA is an investment adviser registered
                                            under the Investment Advisers Act of 1940, as amended (the &ldquo;<B><I>Advisers Act</I></B>&rdquo;).</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Capital, L.L.C. (&ldquo;<B><I>NMC</I></B>&rdquo;) serves as the investment adviser
                                            to certain of the Existing Affiliated Funds on behalf of itself and its successors. NMC is
                                            an investment adviser registered under the Advisers Act.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>New
                                            Mountain Credit CLO Advisers, L.L.C. (&ldquo;<B><I>CLO Adviser</I></B>&rdquo; and together
                                            with NMFA and NMC, the &ldquo;<B><I>Existing Advisers</I></B>&rdquo;) serves as the investment
                                            adviser to certain of the Existing Affiliated Funds on behalf of itself and its successors.
                                            CLO Adviser is an investment adviser registered under the Advisers Act. All of the Existing
                                            Advisers are under common control.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>Certain
                                            vehicles (as identified on <U>Schedule A</U> hereto) (the &ldquo;<B><I>Existing Wholly-Owned
                                            Subsidiaries</I></B>&rdquo;), each of which is a separate and distinct legal entity and each
                                            of which is a Wholly-Owned Investment Sub (as defined below) of an Existing Regulated Fund.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>Unless otherwise indicated, all section and rule references herein are to the 1940 Act and rules promulgated thereunder.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2
</SUP></FONT><U>New Mountain Finance Corporation, et al.</U> (File No. 812-15030), Release Nos. IC-33624 (September 12, 2019) (notice)
and IC-33656 (October 8, 2019) (order), as amended by File No. 812-15342, Release Nos. IC-34663 (August 4, 2022) (notice) and IC-34691
(order).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD>Certain
                                            existing Affiliated Funds (as identified on <U>Schedule B</U> hereto), each of which is a
                                            separate and distinct legal entity and each of which would be an investment company but for
                                            Section&nbsp;3(c)(7)&nbsp;of the 1940 Act (the &ldquo;<B><I>Existing Affiliated Funds</I></B>&rdquo;
                                            and collectively with the Existing Regulated Funds, the Existing Advisers and the Existing
                                            Wholly-Owned Subsidiaries, the &ldquo;<B><I>Applicants</I></B>&rdquo;).<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The relief requested in this application for the Order (the &ldquo;<B><I>Application</I></B>&rdquo;)
would allow a Regulated Fund<SUP>4</SUP> and one or more Affiliated Entities<SUP>5</SUP> to engage in Co-Investment Transactions<SUP>6
</SUP>subject to the terms and conditions described herein. The Regulated Funds and Affiliated Entities that participate in a Co-Investment
Transaction are collectively referred to herein as &ldquo;<B><I>Participants</I></B>.&rdquo;<SUP>7</SUP> The Applicants do not seek relief
for transactions effected consistent with Commission staff no-action positions.<SUP>8</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3
</SUP>All existing entities that currently intend to rely upon the requested Order have been named as Applicants. Any other existing
or future entity that subsequently relies on the Order will comply with the terms and conditions of the Application.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4
</SUP></FONT>&ldquo;<B><I>Regulated Fund</I></B>&rdquo; means the Existing Regulated Funds and any Future Regulated Funds. &ldquo;<B><I>Future
Regulated Fund</I></B>&rdquo; means an entity (a) that is an open-end or closed-end management investment company registered under the
1940 Act, or a closed-end management investment company that has elected to be regulated as a business development company under the
1940 Act, (b) whose (1) primary investment adviser or (2) sub-adviser is an Adviser (as defined below) and (c) that intends to engage
in Co-Investment Transactions. If an Adviser serves as sub-adviser to a Regulated Fund whose primary adviser is not also an Adviser,
such primary adviser shall be deemed to be an Adviser with respect to conditions 3 and 4 only.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The term Regulated Fund also includes (a) any Wholly-Owned Investment
Sub (as defined below) of a Regulated Fund, (b) any Joint Venture (as defined below) of a Regulated Fund, and (c) any BDC Downstream
Fund (as defined below) of a Regulated Fund that is a business development company. &ldquo;<B><I>Wholly-Owned Investment Sub</I></B>&rdquo;
means an entity: (a) that is a &ldquo;wholly-owned subsidiary&rdquo; (as defined in Section 2(a)(43) of the 1940 Act) of a Regulated
Fund; (b) whose sole business purpose is to hold one or more investments and which may issue debt on behalf or in lieu of such Regulated
Fund; and (c) is not a registered investment company or a business development company. &ldquo;<B><I>Joint Venture</I></B>&rdquo; means
an unconsolidated joint venture subsidiary of a Regulated Fund, in which all portfolio decisions, and generally all other decisions in
respect of such joint venture, must be approved by an investment committee consisting of representatives of the Regulated Fund and the
unaffiliated joint venture partner (with approval from a representative of each required). &ldquo;<B><I>BDC Downstream Fund</I></B>&rdquo;
means an entity (a) directly or indirectly controlled by a Regulated Fund that is a business development company, (b) that is not controlled
by any person other than the Regulated Fund (except a person that indirectly controls the entity solely because it controls the Regulated
Fund), (c) that would be an investment company but for Section 3(c)(1) or 3(c)(7) of the 1940 Act, (d) whose investment adviser is an
Adviser and (e) that is not a Wholly-Owned Investment Sub.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the case of a Wholly-Owned Investment Sub that does not have a
chief compliance officer or a Board, the chief compliance officer and Board of the Regulated Fund that controls the Wholly-Owned Investment
Sub will be deemed to serve those roles for the Wholly-Owned Investment Sub. In the case of a Joint Venture or a BDC Downstream Fund
(as applicable) that does not have a chief compliance officer or a Board, the chief compliance officer of the Regulated Fund will be
deemed to be the Joint Venture&rsquo;s or BDC Downstream Fund&rsquo;s chief compliance officer, and the Joint Venture&rsquo;s or BDC
Downstream Fund&rsquo;s investment committee will be deemed to be the Joint Venture&rsquo;s or BDC Downstream Fund&rsquo;s Board.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5
</SUP></FONT>&ldquo;<B><I>Affiliated Entity</I></B>&rdquo; means an entity not controlled by the Regulated Fund that intends to engage
in Co-Investment Transactions and that is (a) with respect to a Regulated Fund, another Regulated Fund; (b) an Adviser or its affiliates,
and any direct or indirect, wholly- or majority-owned subsidiary of an Adviser or its affiliates, that is participating in a Co-Investment
Transaction in a principal capacity; or (c) any entity that would be an investment company but for Section 3(c) of the 1940 Act or Rule
3a-7 thereunder and whose investment adviser is an Adviser.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the extent that an entity described in clause (b) is not advised
by an Adviser, such entity shall be deemed to be an Adviser for purposes of the conditions.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6
</SUP></FONT>&ldquo;<B><I>Co-Investment Transaction</I></B>&rdquo; means the acquisition or Disposition of securities of an issuer in
a transaction effected in reliance on the Order or previously granted relief.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>7
</SUP></FONT>&ldquo;<B><I>Adviser</I></B>&rdquo; means an Existing Adviser, and any other investment adviser controlling, controlled
by, or under common control with an Existing Adviser. The term &ldquo;Adviser&rdquo; also includes any internally-managed Regulated Fund.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>8
</SUP></FONT><I>See, e.g.</I>, Massachusetts Mutual Life Insurance Co. (pub. avail. June 7, 2000), Massachusetts Mutual Life Insurance
Co. (pub. avail. July 28, 2000) and SMC Capital, Inc. (pub. avail. Sept. 5, 1995).</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>II. GENERAL DESCRIPTION OF THE APPLICANTS</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A. Existing Regulated Funds</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NMFC.
</B></FONT>NMFC is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated
as a business development company under the 1940 Act. NMFC was organized as a corporation under the Delaware General Corporation Law
on June&nbsp;29, 2010, and its shares of common began trading on the New York Stock Exchange on May&nbsp;19, 2011, and subsequently on
Nasdaq on September&nbsp;11, 2020. NMFC has made an election to be treated as a regulated investment company (&ldquo;<B><I>RIC</I></B>&rdquo;)
under Subchapter M of the Internal Revenue Code of 1986, as amended (the &ldquo;<B><I>Code</I></B>&rdquo;), and intends to continue to
make such election in the future.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SLF.
</B></FONT>SLF is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as
a business development company under the 1940 Act. SLF was organized as a corporation under the General Corporate Laws of the State of
Maryland on January&nbsp;23, 2019, and has offered and sold its common stock in private placement transactions pursuant to certain exemptions
of the Securities Act of 1933, as amended (the &ldquo;<B><I>Securities Act</I></B>&rdquo;) and the laws of the states and jurisdictions
where any offering is made. SLF has made an election to be treated as a RIC under Subchapter M of the Code and intends to continue to
make such election in the future.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GIV.
</B></FONT>GIV is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as
a business development company under the 1940 Act. GIV was organized as a limited liability company under the Delaware General Corporation
Law on March&nbsp;18, 2022, and has offered and sold its units of limited liability company interests in private placement transactions
pursuant to certain exemptions of the Securities Act and the laws of the states and jurisdictions where any offering is made. GIV has
made an election to be treated as a RIC under Subchapter M of the Code and intends to continue to make such election in the future.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GIV
Income.</B></FONT> GIV Income is an externally managed, closed-end, non-diversified management investment company that has elected to
be regulated as a business development company under the 1940 Act. GIV Income was organized as a limited liability company under the
General Corporation Law of the State of Delaware on November&nbsp;4, 2022, and has offered and sold its units of limited liability company
interests in private placement transactions pursuant to certain exemptions of the Securities Act and the laws of the states and jurisdictions
where any offering is made. GIV Income has made an election to be treated as a RIC under Subchapter M of the Code and intends to continue
to make such election in the future.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEWCRED.
</B></FONT>NEWCRED is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated
as a business development company under the 1940 Act. NEWCRED was organized as a Maryland statutory trust under the General Corporate
Laws of the State of Maryland on August&nbsp;19, 2024. On December&nbsp;17, 2024, NEWCRED completed its acquisition of New Mountain Guardian
III BDC, L.L.C. NEWCRED is currently offering on a continuous basis its common shares of beneficial interest pursuant to certain exemptions
of the Securities Act and the laws of the states and jurisdictions where any offering is made. NEWCRED has made an election to be treated
as a RIC under Subchapter M of the Code and intends to continue to make such election in the future.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The investment objective of each of NMFC, SLF,
GIV, GIV Income and NEWCRED is to generate current income and capital appreciation through the sourcing and origination of senior secured
loans and select junior capital positions to growing businesses in defensive industries that offer attractive risk-adjusted returns.&nbsp;Each
Existing Regulated Fund intends to invest in the senior secured&nbsp;debt of U.S. sponsor-backed, middle market companies, defined as
businesses with annual earnings before interest, taxes, depreciation, and amortization between $10.0 million and $200.0 million.&nbsp;Senior
secured loans may include traditional first lien loans or unitranche loans.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The business and affairs of each of the Existing
Regulated Funds are managed under the direction of its respective board of directors or board of trustees (each, a &ldquo;<B><I>Board</I></B>&rdquo;).
The Board of NMFC consists of nine members, five of whom are not &ldquo;interested persons&rdquo; of NMFC within the meaning of Section&nbsp;2(a)(19)
of the 1940 Act (the &ldquo;<B><I>Independent Directors</I></B>&rdquo;).<SUP>9</SUP> The Board of SLF consists of five members, four
of whom are Independent Directors. The Boards of GIV, GIV Income and NEWCRED each consist of five members, three of whom are Independent
Directors.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">B. The Existing Affiliated Funds</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Existing Affiliated Funds are investment
funds each of whose investment adviser is an Adviser and each of which would be an investment company but for Section&nbsp;3(c)(1)&nbsp;or
3(c)(7)&nbsp;of the 1940 Act.<SUP>10</SUP>&nbsp;A list of the Existing Affiliated Funds and their respective investment advisers is included
on&nbsp;<U>Schedule B</U>&nbsp;hereto.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">E. The Existing Advisers</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Each of the Existing Advisers was organized as
a limited liability company under the laws of the state of Delaware and is privately held. Each of the Existing Advisers is an indirect
subsidiary of New Mountain Capital Group L.P. and has registered with the Commission pursuant to Section&nbsp;203 of the Advisers Act.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NMFA.
</B></FONT>NMFA serves as the investment adviser to NMFC, SLF, GIV, GIV Income, NEWCRED and certain Existing Affiliated Funds pursuant
to the terms of their respective investment advisory agreements. NMFA will review investments with respect to NMFC, SLF, GIV, GIV Income,
NEWCRED and the Existing Affiliated Funds for which it serves as investment adviser to determine whether or not each entity should invest
in a new portfolio company and, if so, to what extent.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NMC.
</B></FONT>NMC serves as the investment adviser to certain Existing Affiliated Funds pursuant to the terms of their respective investment
advisory agreements. NMC will review investments with respect to the Existing Affiliated Funds for which it serves as investment adviser
to determine whether or not each entity should invest in a new portfolio company and, if so, to what extent.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CLO
Adviser.</B></FONT> CLO Adviser serves as the investment adviser to certain of the Existing Affiliated Funds pursuant to the terms of
their respective investment advisory agreements. CLO Adviser will review investments with respect to the Existing Affiliated Funds for
which it serves as investment adviser to determine whether or not each entity should invest in a new portfolio company and, if so, to
what extent.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>III. ORDER REQUESTED</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Applicants request an Order of the Commission
under Sections 17(d)&nbsp;and 57(i)&nbsp;of the 1940 Act and Rule&nbsp;17d-1 thereunder to permit, subject to the terms and conditions
set forth below in this Application (the &ldquo;<B><I>Conditions</I></B>&rdquo;), each Regulated Fund to be able to participate with
one or more Affiliated Entities in Co-Investment Transactions otherwise prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940
Act and Rule&nbsp;17d-1 thereunder.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A. Applicable Law</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Section&nbsp;17(d), in relevant part, prohibits
an affiliated person, or an affiliated person of such affiliated person, of a registered investment company, acting as principal, from
effecting any transaction in which the registered investment company is &ldquo;a joint or a joint and several participant with such person&rdquo;
in contravention of such rules&nbsp;as the SEC may prescribe &ldquo;for the purpose of limiting or preventing participation by such [fund]
on a basis different from or less advantageous than that of such other participant.&rdquo;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Rule&nbsp;17d-1 prohibits an affiliated person,
or an affiliated person of such affiliated person, of a registered investment company, acting as principal, from participating in, or
effecting any transaction in connection with, any &ldquo;joint enterprise or other joint arrangement or profit-sharing plan&rdquo;<SUP>11
</SUP>in which the fund is a participant without first obtaining an order from the SEC.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>9
</SUP></FONT>The Board of each Future Regulated Fund will consist of a majority of members who are not &ldquo;interested persons&rdquo;
of such Future Regulated Fund within the meaning of Section 2(a)(19) of the 1940 Act.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>10
</SUP></FONT>In the future, an Affiliated Entity that is not a Regulated Fund may register as a closed-end management investment company
or elect to be regulated as a business development company under the 1940 Act and, if so, will be considered a Regulated Fund for purposes
of this application.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>11
</SUP></FONT>Rule 17d-1(c) defines a &ldquo;[j]oint enterprise or other joint arrangement or profit-sharing plan&rdquo; to include, in
relevant part, &ldquo;any written or oral plan, contract, authorization or arrangement or any practice or understanding concerning an
enterprise or undertaking whereby a registered investment company &hellip; and any affiliated person of or principal underwriter for
such registered company, or any affiliated person of such a person or principal underwriter, have a joint or a joint and several participation,
or share in the profits of such enterprise or undertaking &hellip;.&rdquo;</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Section&nbsp;57(a)(4), in relevant part, prohibits
any person related to a business development company in the manner described in Section&nbsp;57(b), acting as principal, from knowingly
effecting any transaction in which the business development company is a joint or a joint and several participant with such persons in
contravention of such rules&nbsp;as the Commission may prescribe for the purpose of limiting or preventing participation by the business
development company on a basis less advantageous than that of such person. Section&nbsp;57(i)&nbsp;provides that, until the SEC prescribes
rules&nbsp;under Section&nbsp;57(a), the SEC&rsquo;s rules&nbsp;under Section&nbsp;17(d)&nbsp;applicable to registered closed-end investment
companies will be deemed to apply to persons subject to the prohibitions of Section&nbsp;57(a). Because the SEC has not adopted any rules&nbsp;under
Section&nbsp;57(a), Rule&nbsp;17d-1 applies to persons subject to the prohibitions of Section&nbsp;57(a).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Rule&nbsp;17d-1(b)&nbsp;provides, in relevant
part, that in passing upon applications under the rule, the Commission will consider whether the participation of a registered investment
company in a joint enterprise, joint arrangement or profit-sharing plan on the basis proposed is consistent with the provisions, policies
and purposes of the 1940 Act and the extent to which such participation is on a basis different from or less advantageous than that of
other participants.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">B. Need for Relief</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Each Regulated Fund may be deemed to be an affiliated
person of each other Regulated Fund within the meaning of Section&nbsp;2(a)(3)&nbsp;if it is deemed to be under common control because
an Adviser is or will be either the investment adviser or sub-adviser to each Regulated Fund. Section&nbsp;17(d)&nbsp;and Section&nbsp;57(b)&nbsp;apply
to any investment adviser to an open- or closed-end fund or a business development company, respectively, including a sub-adviser. Thus,
an Adviser and any Affiliated Entities that it advises could be deemed to be persons related to Regulated Funds in a manner described
by Sections 17(d)&nbsp;and 57(b). The Existing Advisers are each indirect subsidiaries of New Mountain Capital Group, L.P., are under
common control, and are thus affiliated persons of each other. Accordingly, with respect to the Existing Advisers and any other Advisers
that are deemed to be affiliated persons of each other, Affiliated Entities advised by any of them could be deemed to be persons related
to Regulated Funds (or a company controlled by a Regulated Fund) in a manner described by Sections 17(d)&nbsp;and 57(b). In addition,
any entities or accounts controlled by or under common control with the Existing Advisers, and/or any other Advisers that are deemed
to be affiliated persons of each other that may, from time to time, hold various financial assets in a principal capacity, could be deemed
to be persons related to Regulated Funds (or a company controlled by a Regulated Fund) in a manner described by Sections 17(d)&nbsp;and
57(b). Finally, with respect to any Wholly-Owned Investment Sub, Joint Venture, or BDC Downstream Fund of a Regulated Fund, such entity
would be a company controlled by its parent Regulated Fund for purposes of Section&nbsp;57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d-l
under the 1940 Act.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">C. Conditions</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Applicants agree that any Order granting the
requested relief will be subject to the following Conditions.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">1. <U>Same Terms</U>. With respect to any Co-Investment
Transaction, each Regulated Fund, and Affiliated Entity participating in such transaction will acquire, or dispose of, as the case may
be, the same class of securities, at the same time, for the same price and with the same conversion, financial reporting and registration
rights, and with substantially the same other terms (provided that the settlement date for an Affiliated Entity may occur up to ten business
days after the settlement date for the Regulated Fund, and vice versa). If a Participant, but not all of the Regulated Funds, has the
right to nominate a director for election to a portfolio company&rsquo;s board of directors, the right to appoint a board observer or
any similar right to participate in the governance or management of a portfolio company, the Board of each Regulated Fund that does not
hold this right must be given the opportunity to veto the selection of such person.<SUP>12</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>12
</SUP></FONT>Such a Board can also, consistent with applicable fund documents, facilitate this opportunity by delegating the authority
to veto the selection of such person to a committee of the Board.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">2. <U>Existing Investments in the Issuer</U>.
Prior to a Regulated Fund acquiring in a Co-Investment Transaction a security of an issuer in which an Affiliated Entity has an existing
interest in such issuer, the &ldquo;required majority,&rdquo; as defined in Section&nbsp;57(o)&nbsp;of the 1940 Act,<SUP>13</SUP> of
the Regulated Fund (&ldquo;<B><I>Required Majority</I></B>&rdquo;) will take the steps set forth in Section&nbsp;57(f)&nbsp;of the 1940
Act,<SUP>14</SUP> unless: (i)&nbsp;the Regulated Fund already holds the same security as each such Affiliated Entity; and (ii)&nbsp;the
Regulated Fund and each other Affiliated Entity holding the security is participating in the acquisition in approximate proportion to
its then-current holdings.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">3. <U>Related Expenses</U>. Any expenses associated
with acquiring, holding or disposing of any securities acquired in a Co-Investment Transaction, to the extent not borne by the Adviser(s),
will be shared among the Participants in proportion to the relative amounts of the securities being acquired, held or disposed of, as
the case may be.<SUP>15</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">4. <U>No Remuneration</U>. Any transaction fee<SUP>16
</SUP>(including break-up, structuring, monitoring or commitment fees but excluding broker&rsquo;s fees contemplated by section 17(e)&nbsp;or
57(k)&nbsp;of the 1940 Act, as applicable), received by an Adviser and/or a Participant in connection with a Co-Investment Transaction
will be distributed to the Participants on a pro rata basis based on the amounts they invested or committed, as the case may be, in such
Co-Investment Transaction. If any transaction fee is to be held by an Adviser pending consummation of the transaction, the fee will be
deposited into an account maintained by the Adviser at a bank or banks having the qualifications prescribed in section 26(a)(1)&nbsp;of
the 1940 Act, and the account will earn a competitive rate of interest that will also be divided pro rata among the Participants based
on the amount they invest in such Co-Investment Transaction. No Affiliated Entity, Regulated Fund, or any of their affiliated persons
will accept any compensation, remuneration or financial benefit in connection with a Regulated Fund&rsquo;s participation in a Co-Investment
Transaction, except: (i)&nbsp;to the extent permitted by Section&nbsp;17(e)&nbsp;or 57(k)&nbsp;of the 1940 Act; (ii)&nbsp;as a result
of either being a Participant in the Co-Investment Transaction or holding an interest in the securities issued by one of the Participants;
or (iii)&nbsp;in the case of an Adviser, investment advisory compensation paid in accordance with investment advisory agreement(s)&nbsp;with
the Regulated Fund(s)&nbsp;or Affiliated Entity(ies).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">5. <U>Co-Investment Policies</U>. Each Adviser
(and each Affiliated Entity that is not advised by an Adviser) will adopt and implement policies and procedures reasonably designed to
ensure that: (i)&nbsp;opportunities to participate in Co-Investment Transactions are allocated in a manner that is fair and equitable
to every Regulated Fund; and (ii)&nbsp;the Adviser negotiating the Co-Investment Transaction considers the interest in the Transaction
of any participating Regulated Fund (the &ldquo;<B><I>Co-Investment Policies</I></B>&rdquo;). Each Adviser (and each Affiliated Entity
that is not advised by an Adviser) will provide its Co-Investment Policies to the Regulated Funds and will notify the Regulated Funds
of any material changes thereto.<SUP>17</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>13
</SUP></FONT>Section 57(o) defines the term &ldquo;required majority,&rdquo; in relevant part, with respect to the approval of a proposed
transaction, as both a majority of a BDC&rsquo;s directors who have no financial interest in the transaction and a majority of such directors
who are not interested persons of the BDC. In the case of a Regulated Fund that is not a BDC, the Board members that constitute the Required
Majority will be determined as if such Regulated Fund were a BDC subject to Section 57(o) of the 1940 Act.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>14
</SUP></FONT>Section 57(f) provides for the approval by a Required Majority of certain transactions on the basis that, in relevant part:
(i) the terms of the transaction, including the consideration to be paid or received, are reasonable and fair to the shareholders of
the BDC and do not involve overreaching of the BDC or its shareholders on the part of any person concerned; (ii) the proposed transaction
is consistent with the interests of the BDC&rsquo;s shareholders and the BDC&rsquo;s policy as recited in filings made by the BDC with
the Commission and the BDC&rsquo;s reports to shareholders; and (iii) the BDC&rsquo;s directors record in their minutes and preserve
in their records a description of the transaction, their findings, the information or materials upon which their findings were based,
and the basis for their findings.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>15
</SUP></FONT>Expenses of an individual Participant that are incurred solely by the Participant due to its unique circumstances (such
as legal and compliance expenses) will be borne by such Participant.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>16
</SUP></FONT>Applicants are not requesting and the Commission is not providing any relief for transaction fees received in connection
with any Co-Investment Transaction.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>17
</SUP></FONT>The Affiliated Entities may adopt shared Co-Investment  Policies.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">6. <U>Dispositions</U>:</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;Prior to any Disposition<SUP>18</SUP>
by an Affiliated Entity of a security acquired in a Co-Investment Transaction, the Adviser to each Regulated Fund that participated in
the Co-Investment Transaction will be notified and each such Regulated Fund given the opportunity to participate pro rata based on the
proportion of its holdings relative to the other Affiliated Entities participating in such Disposition.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;Prior to any Disposition by a Regulated
Fund of a security acquired in a Co-Investment Transaction, the Required Majority will take the steps set forth in Section&nbsp;57(f)&nbsp;of
the 1940 Act, unless: (i)&nbsp;each Affiliated Entity holding the security participates in the Disposition in approximate proportion
to its then-current holding of the security; or (ii)&nbsp;the Disposition is a sale of a Tradable Security.<SUP>19</SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">7. <U>Board Oversight</U></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;Each Regulated Fund&rsquo;s directors
will oversee the Regulated Fund&rsquo;s participation in the co-investment program in the exercise of their reasonable business judgment.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;Prior to a Regulated Fund&rsquo;s participation
in Co-Investment Transactions, the Regulated Fund&rsquo;s Board, including a Required Majority, will: (i)&nbsp;review the Co-Investment
Policies, to ensure that they are reasonably designed to prevent the Regulated Fund from being disadvantaged by participation in the
co-investment program; and (ii)&nbsp;approve policies and procedures of the Regulated Fund that are reasonably designed to ensure compliance
with the terms of the Order.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;At least quarterly, each Regulated Fund&rsquo;s
Adviser and chief compliance officer (as defined in Rule&nbsp;38a-1(a)(4)) will provide the Regulated Fund Boards with reports or other
information requested by the Board related to a Regulated Fund&rsquo;s participation in Co-Investment Transactions and a summary of matters,
if any, deemed significant that may have arisen during the period related to the implementation of the Co-Investment Policies and the
Regulated Fund&rsquo;s policies and procedures approved pursuant to (b)&nbsp;above.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(d)&nbsp;Every year, each Regulated Fund&rsquo;s
Adviser and chief compliance officer will provide the Regulated Fund&rsquo;s Board with reports or other information requested by the
Board related to the Regulated Fund&rsquo;s participation in the co-investment program and any material changes in the Affiliated Entities&rsquo;
participation in the co-investment program, including changes to the Affiliated Entities&rsquo; Co-Investment Policies.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(e)&nbsp;The Adviser and the chief compliance
officer will also notify the Regulated Fund&rsquo;s Board of a compliance matter related to the Regulated Fund&rsquo;s participation
in the co-investment program and related Co-Investment Policies or the Regulated Fund&rsquo;s policies and procedures approved pursuant
to (b)&nbsp;above that a Regulated Fund&rsquo;s chief compliance officer considers to be material.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">8. <U>Recordkeeping</U>. All information presented
to the Board pursuant to the order will be kept for the life of the Regulated Fund and at least two years thereafter, and will be subject
to examination by the Commission and its Staff. Each Regulated Fund will maintain the records required by Section&nbsp;57(f)(3)&nbsp;as
if it were a business development company and each of the Co-Investment Transactions were approved by the Required Majority under Section&nbsp;57(f).<SUP></SUP></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9. In the event that the Commission adopts a rule under the 1940 Act allowing co-investments of the type described in this Application,
any relief granted by the Order will expire on the effective date of that rule.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>18
</SUP></FONT><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Disposition</I></B>&rdquo; means the sale, exchange, transfer or other disposition
of an interest in a security of an issuer.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>19
</SUP></FONT><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Tradable Security</I></B>&rdquo; means a security which trades: (i) on a national
securities exchange (or designated offshore securities market as defined in Rule 902(b) under the Securities Act) and (ii) with sufficient
volume and liquidity (findings which are to be made in good faith and documented by the Advisers to any Regulated Funds) to allow each
Regulated Fund to dispose of its entire remaining position within 30 days at approximately the price at which the Regulated Fund has
valued the investment.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IV. STATEMENT IN SUPPORT OF RELIEF REQUESTED</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Applicants submit that allowing the Co-Investment
Transactions described by this Application is justified on the basis of (i)&nbsp;the potential benefits to the Regulated Funds and their
respective shareholders and (ii)&nbsp;the protections found in the terms and conditions set forth in this Application.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A. Potential Benefits to the Regulated Funds
and their Shareholders</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Section&nbsp;57(a)(4)&nbsp;and Rule&nbsp;17d-1
(as applicable) limit the ability of the Regulated Funds to participate in attractive co-investment opportunities under certain circumstances.
If the relief is granted, the Regulated Funds should: (i)&nbsp;be able to participate in a larger number and greater variety of investments,
thereby diversifying their portfolios and providing related risk-limiting benefits; (ii)&nbsp;be able to participate in larger financing
opportunities, including those involving issuers with better credit quality, which otherwise might not be available to investors of a
Regulated Fund&rsquo;s size; (iii)&nbsp;have greater bargaining power (notably with regard to creditor protection terms and other similar
investor rights), more control over the investment and less need to bring in other external investors or structure investments to satisfy
the different needs of external investors; (iv)&nbsp;benefit from economies of scale by sharing fixed expenses associated with an investment
with the other Participants; and (v)&nbsp;be able to obtain better deal flow from investment bankers and other sources of investments.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">B. Shareholder Protections</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Each Co-Investment Transaction would be subject
to the terms and conditions of this Application. The Conditions are designed to address the concerns underlying Sections 17(d)&nbsp;and
57(a)(4)&nbsp;and Rule&nbsp;17d-l by ensuring that participation by a Regulated Fund in any Co-Investment Transaction would not be on
a basis different from or less advantageous than that of other Participants. Under Condition 5, each Adviser (and each Affiliated Entity
that is not advised by an Adviser) will adopt and implement Co-Investment Policies that are reasonably designed to ensure that (i)&nbsp;opportunities
to participate in Co-Investment Transactions are allocated in a manner that is fair and equitable to every Regulated Fund; and (ii)&nbsp;the
Adviser negotiating the Co Investment Transaction considers the interest in the Transaction of any participating Regulated Fund. The
Co-Investment Policies will require an Adviser to make an independent determination of the appropriateness of a Co-Investment Transaction
and the proposed allocation size based on each Participant&rsquo;s specific investment profile and other relevant characteristics.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>V. PRECEDENTS</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Commission has previously issued orders permitting
certain investment companies subject to regulation under the 1940 Act and their affiliated persons to be able to participate in Co-Investment
Transactions (the &ldquo;<B><I>Existing Orders</I></B>&rdquo;).<SUP>20</SUP> Similar to the Existing Orders, the Conditions described
herein are designed to mitigate the possibility for overreaching and to promote fair and equitable treatment of the Regulated Funds.
Accordingly, the Applicants submit that the scope of investor protections contemplated by the Conditions are consistent with those found
in the Existing Orders.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>20</SUP> <I>See, e.g</I>., Polen Credit Opportunities Fund, <I>et
al</I>. (File No. 812-15457) Release No. IC-35183 (May 2, 2024) (notice), Release No. IC-35206 (May 28, 2024) (Order); Sound Point Meridian
Capital, Inc., <I>et al</I>. (File No. 812-15476-01) Release No. IC-35173 (April 19, 2024) (notice), Release No. IC-35192 (May 15, 2024)
(order); Brookfield Infrastructure Income Fund Inc., <I>et al</I>. (File No. 812-15415), Release No. IC-35001 (September 20, 2022) (notice),
Release No. IC-35032 (October 17, 2023) (order); T. Rowe Price OHA Select Private Credit Fund, <I>et al.</I> (File No. 812-15461), Release
No. IC-34963 (July 24, 2023) (notice), Release No. IC-34987 (August 21, 2023) (order); KKR Real Estate Select Trust Inc., <I>et al.</I>
(File No. 812-15181), Release No. IC-34962 (July 18, 2023) (notice), Release No. IC-34985 (August 15, 2023) (order); MBC Total Private
Markets Access Fund, <I>et al.</I> (File No. 812-15422), Release No. IC-34953 (June 28, 2023) (notice), Release No. IC-34965 (July 25,
2023) (order); Vista Credit Strategic Lending Corp. <I>et al.</I> (File No. 812-15323), Release No. IC-34946 (June 20, 2023) (notice),
Release No. IC-34961 (July 18, 2023) (order).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VI. PROCEDURAL MATTERS</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A. Communications</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Please address all communications concerning
this Application, the Notice and the Order to:</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>John R. Kline</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>President and Chief Executive Officer</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New Mountain Finance Corporation</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1633 Broadway, 48th Floor</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 720-0300</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>jkline@newmountaincapital.com</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please address any questions, and a copy of any communications, concerning
this Application, the Notice, and the Order to:</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Steven B. Boehm,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Payam Siadatpour,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Anne G. Oberndorf,&nbsp;Esq.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Eversheds Sutherland (US) LLP</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>700 Sixth Street, N.W.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20001</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(202) 383-0100</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>anneoberndorf@eversheds-sutherland.com</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">B. Authorizations</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The filing of this Application for the Order
sought hereby and the taking of all acts reasonably necessary to obtain the relief requested herein was authorized by the Board of each
Existing Regulated Fund pursuant to resolutions duly adopted by the Board. Copies of the resolutions are provided below.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to Rule&nbsp;0-2(c), Applicants hereby
state that each Existing Regulated Fund and Existing Affiliated Fund have authorized to cause to be prepared and to execute and file
with the Commission this Application and any amendment thereto for an order pursuant to Section&nbsp;57(i)&nbsp;and Rule&nbsp;17d-1 permitting
certain joint transactions otherwise prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;and Rule&nbsp;17d-1. The person executing the
Application on behalf of the Applicants being duly sworn deposes and says that he has duly executed the Application for and on behalf
of the applicable entity listed; that he is authorized to execute the Application pursuant to the terms of an operating agreement, management
agreement or otherwise; and that all actions by members, directors or other bodies necessary to authorize each such deponent to execute
and file the Application have been taken.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Applicants have caused this Application to
be duly signed on their behalf on the 1st day of April, 2025.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Finance Corporation</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 1pt; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NMF
    SLF I,&nbsp;Inc.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Guardian IV BDC, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Guardian IV Income Fund, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Private Credit Fund</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Finance Advisers, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Person</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Capital, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Credit CLO Advisers, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Person</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Existing
                                            Wholly-Owned Subsidiaries:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance DB, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance Holdings, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance SBIC II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance SBIC, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance Servicing, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Ancora Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF HB,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF OEC,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Permian Holdings L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Pioneer,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF QID NGL Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF TRM, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF YP Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Net Lease Corporation</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF SLF I SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF SLF I Opportunistic SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV Holdings, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV Panzura,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV PPP,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Private Credit Fund OEC,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Private Credit Fund SPV I, L.L.C.</P>
</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt; width: 45%">&nbsp;</TD></TR>

<TR>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Signatory </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0"><B>Existing
                                            Affiliated Funds:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0">New Mountain Guardian Partners II,
L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian II Master Fund-A, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian II Master Fund-B, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Net Lease Partners, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Net Lease Partners II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Net Lease Trust</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">H-1 CREDIT FUND I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian V (Unlevered), L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian V (Levered) L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">I-1 CREDIT FUND I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Partners VI, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Partners VII, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Partners VI Luxembourg, SCSp</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain SRC Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CAS Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain DAT Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Strategic Equity Fund I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Strategic Equity Fund II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 1,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 2,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 3,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 4,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 5,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 6,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 7,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain CLO 8,&nbsp;Ltd.</P>
</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 1pt; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; font-size: 10pt; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Signatory </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;A</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Verification</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned states that
he has duly executed the attached application dated as of April 1, 2025 for and on behalf of the entities listed below; that
he holds office with such entity as indicated below and that all action by directors, officers, stockholders, general partners, trustees
or members of each entity and any other body necessary to authorize the undersigned to execute and file such instrument has been taken.
The undersigned further states that he is familiar with such instrument, and the contents thereof, and that the facts therein set forth
are true to the best of his knowledge, information and belief.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Finance Corporation</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NMF
    SLF I,&nbsp;Inc.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Guardian IV BDC, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Guardian IV Income Fund, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Private Credit Fund</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Finance Advisers, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Person</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Capital, L.L.C.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Compliance Officer</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mountain Credit CLO Advisers, L.L.C.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; width: 45%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Person</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Existing
                                            Wholly-Owned Subsidiaries:</B></P>
                                                                                  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>&nbsp;</B></P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance DB, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance Holdings, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance SBIC II, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance SBIC, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Finance Servicing, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Ancora Holdings,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF HB,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF OEC,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Permian Holdings L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF Pioneer,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF QID NGL Holdings,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF TRM, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF YP Holdings,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Net Lease Corporation</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF SLF I SPV, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">NMF SLF I Opportunistic SPV, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV SPV, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV Holdings, L.L.C.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV Panzura,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian IV PPP,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Private Credit Fund OEC,&nbsp;Inc.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Private Credit Fund SPV I, L.L.C.</P>
</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>

<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Signatory </FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0"><B>Existing
                                            Affiliated Funds:</B></P>
                                                                                  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian Partners II, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian II Master Fund-A, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian II Master Fund-B, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Net Lease Partners, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Net Lease Partners II, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Net Lease Trust</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">H-1 CREDIT FUND I, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Guardian V (Unlevered), L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Guardian V (Levered) L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">I-1 CREDIT FUND I, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Partners VI, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Partners VII, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Partners VI Luxembourg, SCSp</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain SRC Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CAS Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain DAT Continuation Fund, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain Strategic Equity Fund I, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0; margin: 0pt 0">New Mountain Strategic Equity Fund II, L.P.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 1,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 2,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 3,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 4,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 5,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 6,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 7,&nbsp;Ltd.</P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">New Mountain CLO 8,&nbsp;Ltd.</P>
</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt; width: 45%">&nbsp;</TD></TR>

<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    W. Hartswell</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    Signatory </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B.1</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESOLUTIONS OF THE BOARD OF DIRECTORS OF</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEW MOUNTAIN FINANCE CORPORATION</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board believes it is in the best interests of the Company to file an application with the U.S. Securities and Exchange Commission
(the &ldquo;<B><I>SEC</I></B>&rdquo;) for an order pursuant to Sections 17(d)&nbsp;and 57(i)&nbsp;of the Investment Company Act of 1940,
as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;), and Rule&nbsp;17d&ndash;1 promulgated thereunder (the &ldquo;<B><I>Application</I></B>&rdquo;),
to authorize the entering into of certain joint transactions and co-investments by the Company with certain entities which may be deemed
to be &ldquo;affiliates&rdquo; of the Company pursuant to the provisions of the 1940 Act, which such joint transactions and co-investments
would otherwise be prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d&ndash;1 promulgated thereunder,
all as more fully set forth in the draft Application that has been presented to the Board; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board has previously reviewed the Application.</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW
THEREFORE, BE IT RESOLVED</B></FONT>, that the Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Chief Administrative Officer, Chief Compliance Officer, and the Secretary of the Company (each, an &ldquo;<B><I>Authorized Officer</I></B>&rdquo;
and collectively, the &ldquo;<B><I>Authorized Officers</I></B>&rdquo;) be, and they hereby are, authorized, empowered and directed, in
the name and on behalf of the Company, to prepare or cause to be prepared, executed, delivered and filed with the SEC the Application,
and to do or cause to be done such other acts or things and execute such other documents, including amendments to the Application, as
they deem necessary or desirable, with the advice of counsel, to cause the Application to conform to comments received from the Staff
of the SEC and otherwise deemed necessary or advisable, including changes that may be required to comply with the 1940 Act and the rules&nbsp;and
regulations promulgated thereunder, in such form and accompanied by such exhibits and other documents, as the Authorized Officers preparing
the same shall approve, such approval to be conclusively evidenced by the filing of the Application; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FURTHER
RESOLVED</B></FONT>, that the Authorized Officers be, and each of them hereby is, authorized, empowered and directed, in the name and
on behalf of the Company, to perform or cause to be performed all of the agreements and obligations of the Company in connection with
the foregoing resolutions and to consummate the transactions contemplated thereby, to take or cause to be taken any and all further actions,
to execute and deliver, or cause to be executed and delivered, all other documents, instruments, agreements, undertakings, and certificates
of any kind and nature whatsoever, to incur and pay or cause to be incurred and paid all fees and expenses and to engage such persons
as the Authorized Officers may determine to be necessary, advisable or appropriate to effectuate or carry out the purposes and intent
of the foregoing resolutions, and the execution by the Authorized Officers of any such documents, instruments, agreements, undertakings
and certificates, the payment of any fees and expenses or the engagement of such persons or the taking by them of any action in connection
with the foregoing matters shall conclusively establish the Authorized Officers&rsquo; authority therefore and the authorization, acceptance,
adoption, ratification, approval and confirmation by the Company thereof.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B.2</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESOLUTIONS OF THE BOARD OF DIRECTORS OF</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NMF SLF I,&nbsp;INC.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board believes it is in the best interests of the Company to file an application with the U.S. Securities and Exchange Commission
(the &ldquo;<B><I>SEC</I></B>&rdquo;) for an order pursuant to Sections 17(d)&nbsp;and 57(i)&nbsp;of the Investment Company Act of 1940,
as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;), and Rule&nbsp;17d&ndash;1 promulgated thereunder (the &ldquo;<B><I>Application</I></B>&rdquo;),
to authorize the entering into of certain joint transactions and co-investments by the Company with certain entities which may be deemed
to be &ldquo;affiliates&rdquo; of the Company pursuant to the provisions of the 1940 Act, which such joint transactions and co-investments
would otherwise be prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d&ndash;1 promulgated thereunder,
all as more fully set forth in the draft Application that has been presented to the Board; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board has previously reviewed the Application.</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW
THEREFORE, BE IT RESOLVED</B></FONT>, that the Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Chief Compliance Officer, and the Secretary of the Company (each, an &ldquo;<B><I>Authorized Officer</I></B>&rdquo; and collectively,
the &ldquo;<B><I>Authorized Officers</I></B>&rdquo;) be, and they hereby are, authorized, empowered and directed, in the name and on
behalf of the Company, to prepare or cause to be prepared, executed, delivered and filed with the SEC the Application, and to do or cause
to be done such other acts or things and execute such other documents, including amendments to the Application, as they deem necessary
or desirable, with the advice of counsel, to cause the Application to conform to comments received from the Staff of the SEC and otherwise
deemed necessary or advisable, including changes that may be required to comply with the 1940 Act and the rules&nbsp;and regulations
promulgated thereunder, in such form and accompanied by such exhibits and other documents, as the Authorized Officers preparing the same
shall approve, such approval to be conclusively evidenced by the filing of the Application; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FURTHER
RESOLVED</B></FONT>, that the Authorized Officers be, and each of them hereby is, authorized, empowered and directed, in the name and
on behalf of the Company, to perform or cause to be performed all of the agreements and obligations of the Company in connection with
the foregoing resolutions and to consummate the transactions contemplated thereby, to take or cause to be taken any and all further actions,
to execute and deliver, or cause to be executed and delivered, all other documents, instruments, agreements, undertakings, and certificates
of any kind and nature whatsoever, to incur and pay or cause to be incurred and paid all fees and expenses and to engage such persons
as the Authorized Officers may determine to be necessary, advisable or appropriate to effectuate or carry out the purposes and intent
of the foregoing resolutions, and the execution by the Authorized Officers of any such documents, instruments, agreements, undertakings
and certificates, the payment of any fees and expenses or the engagement of such persons or the taking by them of any action in connection
with the foregoing matters shall conclusively establish the Authorized Officers&rsquo; authority therefore and the authorization, acceptance,
adoption, ratification, approval and confirmation by the Company thereof.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B.3</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESOLUTIONS OF THE BOARD OF DIRECTORS OF</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEW MOUNTAIN GUARDIAN IV BDC, L.L.C.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board believes it is in the best interests of the Company to file an application with the U.S. Securities and Exchange Commission
(the &ldquo;<B><I>SEC</I></B>&rdquo;) for an order pursuant to Sections 17(d)&nbsp;and 57(i)&nbsp;of the Investment Company Act of 1940,
as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;), and Rule&nbsp;17d&ndash;1 promulgated thereunder (the &ldquo;<B><I>Application</I></B>&rdquo;),
to authorize the entering into of certain joint transactions and co-investments by the Company with certain entities which may be deemed
to be &ldquo;affiliates&rdquo; of the Company pursuant to the provisions of the 1940 Act, which such joint transactions and co-investments
would otherwise be prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d&ndash;1 promulgated thereunder,
all as more fully set forth in the draft Application that has been presented to the Board; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board has previously reviewed the Application.</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW
THEREFORE, BE IT RESOLVED</B></FONT>, that the Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Chief Compliance Officer, and the Secretary of the Company (each, an &ldquo;<B><I>Authorized Officer</I></B>&rdquo; and collectively,
the &ldquo;<B><I>Authorized Officers</I></B>&rdquo;) be, and they hereby are, authorized, empowered and directed, in the name and on
behalf of the Company, to prepare or cause to be prepared, executed, delivered and filed with the SEC the Application, and to do or cause
to be done such other acts or things and execute such other documents, including amendments to the Application, as they deem necessary
or desirable, with the advice of counsel, to cause the Application to conform to comments received from the Staff of the SEC and otherwise
deemed necessary or advisable, including changes that may be required to comply with the 1940 Act and the rules&nbsp;and regulations
promulgated thereunder, in such form and accompanied by such exhibits and other documents, as the Authorized Officers preparing the same
shall approve, such approval to be conclusively evidenced by the filing of the Application; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FURTHER
RESOLVED</B></FONT>, that the Authorized Officers be, and each of them hereby is, authorized, empowered and directed, in the name and
on behalf of the Company, to perform or cause to be performed all of the agreements and obligations of the Company in connection with
the foregoing resolutions and to consummate the transactions contemplated thereby, to take or cause to be taken any and all further actions,
to execute and deliver, or cause to be executed and delivered, all other documents, instruments, agreements, undertakings, and certificates
of any kind and nature whatsoever, to incur and pay or cause to be incurred and paid all fees and expenses and to engage such persons
as the Authorized Officers may determine to be necessary, advisable or appropriate to effectuate or carry out the purposes and intent
of the foregoing resolutions, and the execution by the Authorized Officers of any such documents, instruments, agreements, undertakings
and certificates, the payment of any fees and expenses or the engagement of such persons or the taking by them of any action in connection
with the foregoing matters shall conclusively establish the Authorized Officers&rsquo; authority therefore and the authorization, acceptance,
adoption, ratification, approval and confirmation by the Company thereof.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B.4</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESOLUTIONS OF THE BOARD OF DIRECTORS OF</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEW MOUNTAIN GUARDIAN IV INCOME FUND, L.L.C.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board believes it is in the best interests of the Company to file an application with the U.S. Securities and Exchange Commission
(the &ldquo;<B><I>SEC</I></B>&rdquo;) for an order pursuant to Sections 17(d)&nbsp;and 57(i)&nbsp;of the Investment Company Act of 1940,
as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;), and Rule&nbsp;17d&ndash;1 promulgated thereunder (the &ldquo;<B><I>Application</I></B>&rdquo;),
to authorize the entering into of certain joint transactions and co-investments by the Company with certain entities which may be deemed
to be &ldquo;affiliates&rdquo; of the Company pursuant to the provisions of the 1940 Act, which such joint transactions and co-investments
would otherwise be prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d&ndash;1 promulgated thereunder,
all as more fully set forth in the draft Application that has been presented to the Board; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board has previously reviewed the Application.</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW
THEREFORE, BE IT RESOLVED</B></FONT>, that the Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Chief Compliance Officer, and the Secretary of the Company (each, an &ldquo;<B><I>Authorized Officer</I></B>&rdquo; and collectively,
the &ldquo;<B><I>Authorized Officers</I></B>&rdquo;) be, and they hereby are, authorized, empowered and directed, in the name and on
behalf of the Company, to prepare or cause to be prepared, executed, delivered and filed with the SEC the Application, and to do or cause
to be done such other acts or things and execute such other documents, including amendments to the Application, as they deem necessary
or desirable, with the advice of counsel, to cause the Application to conform to comments received from the Staff of the SEC and otherwise
deemed necessary or advisable, including changes that may be required to comply with the 1940 Act and the rules&nbsp;and regulations
promulgated thereunder, in such form and accompanied by such exhibits and other documents, as the Authorized Officers preparing the same
shall approve, such approval to be conclusively evidenced by the filing of the Application; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FURTHER
RESOLVED</B></FONT>, that the Authorized Officers be, and each of them hereby is, authorized, empowered and directed, in the name and
on behalf of the Company, to perform or cause to be performed all of the agreements and obligations of the Company in connection with
the foregoing resolutions and to consummate the transactions contemplated thereby, to take or cause to be taken any and all further actions,
to execute and deliver, or cause to be executed and delivered, all other documents, instruments, agreements, undertakings, and certificates
of any kind and nature whatsoever, to incur and pay or cause to be incurred and paid all fees and expenses and to engage such persons
as the Authorized Officers may determine to be necessary, advisable or appropriate to effectuate or carry out the purposes and intent
of the foregoing resolutions, and the execution by the Authorized Officers of any such documents, instruments, agreements, undertakings
and certificates, the payment of any fees and expenses or the engagement of such persons or the taking by them of any action in connection
with the foregoing matters shall conclusively establish the Authorized Officers&rsquo; authority therefore and the authorization, acceptance,
adoption, ratification, approval and confirmation by the Company thereof.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B.5</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESOLUTIONS OF THE BOARD OF TRUSTEES OF</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEW MOUNTAIN PRIVATE CREDIT FUND</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board believes it is in the best interests of the Company to file an application with the U.S. Securities and Exchange Commission
(the &ldquo;<B><I>SEC</I></B>&rdquo;) for an order pursuant to Sections 17(d)&nbsp;and 57(i)&nbsp;of the Investment Company Act of 1940,
as amended (the &ldquo;<B><I>1940 Act</I></B>&rdquo;), and Rule&nbsp;17d&ndash;1 promulgated thereunder (the &ldquo;<B><I>Application</I></B>&rdquo;),
to authorize the entering into of certain joint transactions and co-investments by the Company with certain entities which may be deemed
to be &ldquo;affiliates&rdquo; of the Company pursuant to the provisions of the 1940 Act, which such joint transactions and co-investments
would otherwise be prohibited by Sections 17(d)&nbsp;and 57(a)(4)&nbsp;of the 1940 Act and Rule&nbsp;17d&ndash;1 promulgated thereunder,
all as more fully set forth in the draft Application that has been presented to the Board; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the Board has previously reviewed the Application.</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW
THEREFORE, BE IT RESOLVED</B></FONT>, that the Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Chief Compliance Officer, and the Secretary of the Company (each, an &ldquo;<B><I>Authorized Officer</I></B>&rdquo; and collectively,
the &ldquo;<B><I>Authorized Officers</I></B>&rdquo;) be, and they hereby are, authorized, empowered and directed, in the name and on
behalf of the Company, to prepare or cause to be prepared, executed, delivered and filed with the SEC the Application, and to do or cause
to be done such other acts or things and execute such other documents, including amendments to the Application, as they deem necessary
or desirable, with the advice of counsel, to cause the Application to conform to comments received from the Staff of the SEC and otherwise
deemed necessary or advisable, including changes that may be required to comply with the 1940 Act and the rules&nbsp;and regulations
promulgated thereunder, in such form and accompanied by such exhibits and other documents, as the Authorized Officers preparing the same
shall approve, such approval to be conclusively evidenced by the filing of the Application; and</P>


<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FURTHER
RESOLVED</B></FONT>, that the Authorized Officers be, and each of them hereby is, authorized, empowered and directed, in the name and
on behalf of the Company, to perform or cause to be performed all of the agreements and obligations of the Company in connection with
the foregoing resolutions and to consummate the transactions contemplated thereby, to take or cause to be taken any and all further actions,
to execute and deliver, or cause to be executed and delivered, all other documents, instruments, agreements, undertakings, and certificates
of any kind and nature whatsoever, to incur and pay or cause to be incurred and paid all fees and expenses and to engage such persons
as the Authorized Officers may determine to be necessary, advisable or appropriate to effectuate or carry out the purposes and intent
of the foregoing resolutions, and the execution by the Authorized Officers of any such documents, instruments, agreements, undertakings
and certificates, the payment of any fees and expenses or the engagement of such persons or the taking by them of any action in connection
with the foregoing matters shall conclusively establish the Authorized Officers&rsquo; authority therefore and the authorization, acceptance,
adoption, ratification, approval and confirmation by the Company thereof.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Schedule A</U></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Wholly-Owned Subsidiaries of New Mountain Finance Corporation:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Finance DB, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Finance Holdings, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Finance SBIC II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Finance SBIC, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Finance Servicing, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF Ancora Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF HB,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF OEC,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF Permian Holdings L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF Pioneer,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF QID NGL Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF TRM, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF YP Holdings,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Net Lease Corporation</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Wholly-Owned Subsidiaries of NMF SLF I,&nbsp;Inc.:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF SLF I SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NMF SLF I Opportunistic SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Wholly-Owned Subsidiaries of New Mountain Guardian IV
BDC, L.L.C.:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian IV SPV, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian IV Holdings, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian IV Panzura,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian IV PPP,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Wholly-Owned Subsidiaries of New Mountain Private Credit
Fund:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Private Credit Fund OEC,&nbsp;Inc.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Private Credit Fund SPV I, L.L.C.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Schedule B</U></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Affiliated Funds Whose Adviser is New Mountain Finance
Advisers L.L.C.:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian Partners II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian II Master Fund-A, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian II Master Fund-B, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Net Lease Partners, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Net Lease Partners II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Net Lease Trust</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">H-1 CREDIT FUND I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian V (Unlevered), L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Guardian V (Levered) L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I-1 CREDIT FUND I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Affiliated Funds Whose Adviser is New Mountain Capital,
L.L.C.:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Partners VI, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Partners VII, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Partners VI Luxembourg, SCSp</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain SRC Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CAS Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain DAT Continuation Fund, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Strategic Equity Fund I, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain Strategic Equity Fund II, L.P.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Existing Affiliated Funds Whose Adviser is New Mountain Credit
CLO Advisers, L.L.C.:</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 1,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 2,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 3,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 4,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 5,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 6,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 7,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Mountain CLO 8,&nbsp;Ltd.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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